U Power Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	48.83	44.29	19.76	7.8	8.01	1.46
Revenue Growth (YoY)	57.22%	124.09%	153.52%	-2.67%	447.13%	-
Cost of Revenue	31.26	33.83	7.59	5.14	5.14	-
Gross Profit	17.57	10.46	12.17	2.66	2.87	1.46
Selling, General & Admin	48.4	49.7	43.7	39.76	42.45	17.08
Research & Development	5.83	2.99	2.18	9.35	5.37	0.11
Operating Expenses	56.12	57.95	47.08	58.91	47.82	17.48
Operating Income	-38.55	-47.49	-34.91	-56.25	-44.95	-16.01
Interest Expense	-0.77	-1.4	-1.86	-0.76	-0.7	-0.53
Interest & Investment Income	0.75	0.74	0.56	0.05	0.44	0.44
Earnings From Equity Investments	0.25	0.25	-	-	-	-
Other Non Operating Income (Expenses)	-8.09	2.04	15.35	-0.7	-1.27	9.58
EBT Excluding Unusual Items	-46.42	-45.86	-20.86	-57.66	-46.48	-6.53
Asset Writedown	-10.5	-10.5	-2	-	-	-
Pretax Income	-56.92	-56.36	-22.85	-57.66	-46.48	-6.53
Income Tax Expense	0.33	-	2.61	0.01	2.58	-
Earnings From Continuing Operations	-57.25	-56.36	-25.47	-57.67	-49.06	-6.53
Minority Interest in Earnings	10.85	8.44	6.13	11.75	7.67	1.02
Net Income	-46.4	-47.92	-19.34	-45.92	-41.4	-5.51
Net Income to Common	-46.4	-47.92	-19.34	-45.92	-41.4	-5.51
Shares Outstanding (Basic)	3	3	1	1	1	1
Shares Outstanding (Diluted)	3	3	1	1	1	1
Shares Change (YoY)	23.14%	129.63%	148.63%	-	-	-
EPS (Basic)	-14.63	-16.79	-15.56	-91.84	-82.80	-11.02
EPS (Diluted)	-14.63	-16.79	-15.56	-91.84	-82.80	-11.02
Free Cash Flow	-77.09	-73.18	-66.32	-20.66	-91.8	-23.73
Free Cash Flow Per Share	-24.31	-25.64	-53.35	-41.32	-183.60	-47.45
Gross Margin	35.98%	23.62%	61.59%	34.11%	35.87%	100.00%
Operating Margin	-78.95%	-107.21%	-176.62%	-721.51%	-561.19%	-1093.72%
Profit Margin	-95.02%	-108.20%	-97.84%	-589.03%	-516.84%	-376.37%
Free Cash Flow Margin	-157.87%	-165.23%	-335.57%	-265.02%	-1146.09%	-1620.56%
EBITDA	-36.58	-44.5	-32.39	-54.16	-43.18	-15.23
EBITDA Margin	-74.92%	-100.47%	-163.86%	-	-	-
D&A For EBITDA	1.97	2.99	2.52	2.09	1.77	0.79
EBIT	-38.55	-47.49	-34.91	-56.25	-44.95	-16.01
EBIT Margin	-78.95%	-107.21%	-176.62%	-	-	-
Revenue as Reported	48.83	44.29	19.76	7.8	8.01	1.46

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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